WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire. Due to the COVID-19 pandemic and ensuing economic crisis, millions of families nationwide have suffered the loss of income and nearly 3 million homeowners are behind… Continue reading CFPB Proposes Mortgage Foreclosures Servicing Changes
Category: Loan Modification
Mortgage modifications are changes in the terms of a mortgage loan designed to make it more affordable to the borrower. Generally, modifications are available only to borrowers in default, or in imminent danger of default from impending rate increases that will make the mortgage payment to high. The purpose is to cure or avoid the default, thereby avoiding foreclosure.
EasyKnock Sale Leaseback with Easy Knock
Hard-up for cash? Sell your home and then buy it back Sale-leaseback startup EasyKnock offers an equity-release solution for homeowners in a bind Jessica Guerin httpss://www.housingwire.com/articles/46401-hard-up-for-cash-sell-your-home-and-then-buy-it-back Your house is your biggest asset. You love it and you don’t want to move. But you could really use some liquidity and your FICO score is lacking, which… Continue reading EasyKnock Sale Leaseback with Easy Knock
What is a Loan Modification or Loss Mitigation
Mortgage modifications or Loss Mitigation is when changes in the terms of a mortgage loan designed to make it more affordable to the borrower. There is Hope when it comes to Loan Modifications. Generally, modifications are available only to borrowers in default, or in imminent danger of default from impending rate increases that will make the mortgage payment not affordable to them. The purpose is to cure or avoid the default, thereby avoiding foreclosure.